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��15�1���
<br /> L�AN#: 15D1 EIVI08735�
<br /> a[�ernafe mortgage insu�e�se�ect�d by Lender.I�subs�anfia�ly equivalen#Martgage insurance��verage�s
<br /> not a�ailable,Borr��rershall con�inue�o pay to Lend�r�he amour►�o��he sepa�a�ely d�signa���paymenfs
<br /> that were due when �he insuranc� co�erage �eased f� be in effe��. Lend�r w�ll accep�, use and re�ain
<br /> �hese p�ymen�s as a non-re�undab�e loss reser-ve in [ieu of Martgage Insurance. 5uch��ss resenie sha[i
<br /> be nan-refundab�e, notw��hstand�ng the fac��hat the Loan is u�f�ma�efy paid in �ull, and Lender shafl nof
<br /> �e�equ�red to pay Bar�flwer any infier�s�or earnings on su�h Ioss reserve. Lender can no[anger require
<br /> �oss r�s�lve paym�rt�s if Mortgage Insu�ance co�erage �in �he amaun� and for th� period that L�nder
<br /> requires} provided by an insurer selec�ed by Lender again be�omes a�ailable, is obtain�d, and Lender
<br /> requ�res s�para�ely designa�ed payme�nts�award�h�premiums for Mortgag��nsurance.If�ender required
<br /> Mortgage �nsuran�e as a condi��on of making�he Loan and Borrower was required�o make s�parately
<br /> �esigna�ed paymen�s�oward �he premiums�or Martgage Insurance, Borro�er sha�� pay the premiums
<br /> �equired fo maintain Mortgage Insurance in �ffec�, ar �a pro�ide a non-refundab�e [oss reser�e, until
<br /> Lender's requ�remenfi for Mortgage Insurance ends in accordance wi�h any writ�en agre�ment b��we�n
<br /> B�r�awer and L�nd�r pro�iding �a�such ��rmination or un��l f�rmina�i�n is requ�r�d by Appf�cab�e Lavu.
<br /> Nn�hing �n fihis 5ec�ion 1�af�ecfis Borrower's ob�iga�ian�a pay in�erest a��he raf�pr��ided in the Note.
<br /> Mortgage Insurance re�mburses Lender�or any enf��y�ha�purcha��s the No��}for ce�tain�osses�t may
<br /> in�ur��Barrawer does no�repay fihe L�an as�gr��d. Borrower is no�a party to�he Mo�tgage lnsurance.
<br /> Mortgage Insurers eWalua�e the�r�otal risk on a�� su�h insurance in for�� fr�m ��me �o time, and
<br /> may enfier in�o ag�eemen�s wifih ather parfiies fiha� share �r m�dify�heir risk, or �educe lass�s. These
<br /> agreements are �n t�rms and c�nd�ti�ns �h�f are sa��sfactary fo fhe mortgage insurer and �he other
<br /> party �a� part�es} �a �hese agreements. These agreements may require �h� mo�tgage insu�er�o make
<br /> payments using any source af funds�hat the rr�ortgag� �nsur�r may ha�e a�a�lab[e twhich may inc�ude
<br /> funds ob�ained from Mortgage Insuranc�premiums}.
<br /> As a resu��o�'�hese a�reements, Lend�r, any pu�chas�r�f the no�e, an��her insurer, any reinsurer,
<br /> any other entity, or afF�fiafie af any af the f�reg�ing, may r�ceiWe �d�recfily o� indirecfi�y} amoun�s fihafi
<br /> d�ri�e from �o�might be characferized as} a portion of Borrower's paym�n�s for iVio�#�age Insurance,
<br /> in exchange for sharin�ar modifying�he mo�t�age insurer's risk, or reducing �osses. �f such ag�e�m�n�
<br /> proWided �hat an affiliafe of L�nder�akes a sha�e af�he �nsurer's risk in exchange for a share of tne
<br /> prem�ums paid ta�he insu�er, �he arrangem�nt is of��n termed "cap�i�e reinsurance." Furth�r:
<br /> �a� Any such ag r�ements wi ll not aff�ct the amou nts that Borr�wer has ag reed to pay for �
<br /> IVlvrtgage[nsurance,or any otherterms�f the Loan.Such agr�ements w�ll not incr�as�the amount
<br /> Borrower v�►i�� ovrre for Mflr-�gag�[nsurance, and they wil! not entit�e Borr�wer to any refund.
<br /> �b} Any suGh agreements vrr�ll nat affect the r�ghts B�rrower has - if any �with respect to
<br /> th� �artgage lnsurance under the H�rneo�►ners Protect�on Act af 1998 or any other[aw.These
<br /> ri�hfis may inc�ude the r�ght to rece��� ce�tain discf�sures, t� request and obta�n canc�flation
<br /> af the Martgage InSuranc�,to ha��the Mortgage lnsurance�erminated aut�matically, andl�r to
<br /> recei�e a refund �f any lVl�rt�age lnsuran�� premiums that w�r� unearned at the time �f such
<br /> cancella�ion �r terrninat��n.
<br /> 1'[. Assi�nr�ent af Miscel�aneo�r�Procee�s; Forfe�ture.Afl M�sce�laneous Proc�eds a��hereby
<br /> �ssign�d�a and shall be paid�o L�nder.
<br /> If�he Prop�rty is damaged,such IV�Esce[faneous Proceeds shafi b�applied�o res�ara�ion or repai�af
<br /> �he Praperty, if�he r�s�ora�ion or repair is ecanomical�y feasib[e and Lende�'s security is no� lessened. �
<br /> During such repair and res�ora�ian period, L�nder shalf ha�e �he righ� �fl hnld su�h M�sce[faneaus
<br /> Proceeds un�i� Lender has had an opportuni�y to inspecf such Proper�y �o ensur� �h�v�rork has b��n
<br /> cample�ed to Lender's safisfac�ion, provided thaf such insp�c��an shall be un�er�ak�n promp�ly. Lend�r
<br /> may pay far the repairs and �estora�ion �n a sin�[e disbursement or �n a ser�es of progress paymen�s
<br /> as�he v�rork is compfef�d. Unless an agreemen� is r�ade in wri�in� or App�icabl� Law requires inf��es�
<br /> to b� pafd on such Mis�ellaneous Proceeds, Lende�shall no�be required fio pay Borrawe�any inter�s�
<br /> �r�arnings on suGh Miscellaneous Pra�eeds. �fthe restoration or repair is not ecanomical�y f�as�bfe or
<br /> Lender's securifiy would be lessened,�he Miscellane�us Proc�eds shal�be applie��a fhe sums se�ured
<br /> by �his �e�u�i�y Insfrum�r�t, vvhe�her or r�o� �hen due, w�th �he excess, �f any, paid fo Barrower. 5uch
<br /> Misce��an�ous Proceed�sha�� b�appl�ed in the order pro��ded fo��n 5ec�ian�.
<br /> in the e�ent of a�o�al taking,desfiruc�ion,ar��ss in�aiue of�he Prope�ty,the M�sce�laneous Proc��ds
<br /> sha[I b� app[ied �o the sums secured by th�s 5ecu�i�y �nst�ument, whe�her or not �h�n due, wi�h fihe �
<br /> exc�ss, ��F any, paid to Borrower.
<br /> [n�he event of a partia��akin�, destruc�ion, or[oss in�aiue of fhe P�operty in wh�ch�h�fair marke�
<br /> value of�he Property immedia�ely before�he partia! taking, destructEan, or fass in value is equal �a or
<br /> gr�ater fhan fhe amaun��f�he sums secured by�his Security Insfirumenf immediately before�he par�ia�
<br /> taking, des�ruc��on, or[oss in �alue, unless Borrower and Lender��herwise agre� in wr��ing, �h�sums
<br /> secured by this Se�urify Ins�rumen� shall b� reduced �y the amount of the Misceflaneou� Proc�eds
<br /> mul�ip[ied by the f�l�ow�ng �ra�fiivn: �a} fhe fo�ai amount of�he sums secured immedia��iy be�ore �he
<br /> par�ial�ak�ng,des�ruc�ion,or�oss in�alue di�ided by�b}�he�air market vafue of�he P�aper�y�rr�mediafely
<br /> before�h�pa�tial�aking, destru���nn, �r�ass in value.Any balance shall be pa�d to Bor�awer.
<br /> In�he event�f a partiai�akrn�, d�s�ru�tion, ar��ss in value n�the Pr�perty in which the�air market
<br /> va[ue�f�he Property immedia�e�y before�h�partial�a�ing, des�ruc�ion, ar Ioss �n vaiue�s!es �han�he
<br /> An��ia�s: �� �
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<br /> NE�RASKA--Single Fami�y--Fannie IVlaelFr�ddie IVlac�N1F�RNi 1NSTRUMENT Form 3�28'1!4'[ ���`��
<br /> E�iie Mae, Inc. pag���� �� NEEDEED ��12
<br /> NEEDEEC]
<br /> �21�212fl�5 1�:29 AM PST
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